US private equity firm TPG Capital is reportedly in advanced stages of negotiations to gain certain equity stake in yogurt maker Chobani.
The discussions are ongoing and may not result in a deal, reported The New York Times.
TPG currently seems to be the lead bidder, and a potential investment from the private investor is yet to be finalized, a source familiar with the matter told the American daily.
Earlier this month, the Wall Street Journal reported citing a source familiar with the matter that Chobani has been seeking to raise capital, and was considering various options, including taking on debt, strategic partnerships and selling stake 15% or less, which could value it at $5bn.
In 2013, Chobani reported a 32% increase in revenues to over $1bn.
New York-headquartered Chobani produces Greek-style yogurt products that are kosher-certified, gluten free, low in lactose, and free of preservatives or artificial flavors.
